Left Brain Wealth Management LLC Invests $317,000 in Snowflake Inc. $SNOW

Left Brain Wealth Management LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,417 shares of the company’s stock, valued at approximately $317,000.

Several other large investors have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new position in Snowflake in the second quarter valued at $25,000. Avion Wealth boosted its stake in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Rossby Financial LCC grew its position in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 127 shares during the period. Whittier Trust Co. grew its position in shares of Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock valued at $31,000 after acquiring an additional 82 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total value of $2,335,000.00. Following the transaction, the executive vice president directly owned 527,336 shares in the company, valued at approximately $123,132,956. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.85, for a total value of $11,318,499.30. Following the sale, the director directly owned 35,276 shares of the company’s stock, valued at approximately $7,931,808.60. This trade represents a 58.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 931,388 shares of company stock valued at $216,578,628. Company insiders own 6.80% of the company’s stock.

Snowflake Stock Down 4.2%

Shares of SNOW opened at $234.37 on Friday. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $246.37 and a two-hundred day simple moving average of $221.71. The company has a market capitalization of $79.40 billion, a PE ratio of -56.47 and a beta of 1.23.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Snowflake’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on SNOW shares. KeyCorp increased their price target on Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Piper Sandler increased their target price on Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their price target on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, UBS Group increased their price objective on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.42.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.